$VXZ MTCMVF settled @ 18.477 (+0.3%). The mid-term constant-maturity VIX futures (MTCMVF) is a weighted average of the current 4th, 5th, 6th, and 7th month VIX futures contracts. It serves as a benchmark for the mid-term volatility ETPs (e.g., VXZ, VIXM, ZIV, VIIZ, TVIZ) and is comparable to the S&P 500 6-month volatility index (VIX6M). MTCMVF is an ideal but inaccurate reflection of portfolios held by the volatility ETPs, and MTCMVF excludes roll loss due to daily resetting. Another benchmark that includes roll loss is the ticker SPVIXMT.